The National Treasury has cautioned Kenyans against falling for an online scam that is circulating under its name and promising quick, guaranteed returns.
The fraudulent poster, which went viral on Monday, September 1, claimed the ministry was launching “Online Investment Sessions” offering easy cash through Treasury-backed products mixed with cryptocurrency.
In the advert, unsuspecting investors were told they could put in between Ksh10,000 and Ksh50,000 and double their money in less than three hours.
To make the scheme sound legitimate, the scammers listed Treasury Bills, Bonds, Infrastructure Bonds, and even “regulated crypto ETFs” as part of the package.
Treasury, however, disowned the notice, warning the public to ignore it.
“The poster below is circulating online, claiming to be from the National Treasury. It is FAKE. Kindly ignore it and do not share further,” the ministry said in a statement.
One of the clearest warning signs was that the notice included a personal WhatsApp number and urged people to enrol immediately.
It also promised fixed profits something no genuine government security ever does.
Legitimate government investments, such as Treasury Bills and Bonds, are only managed through the Central Bank of Kenya and follow strict procedures with clear timelines.
They are also announced through official gazette notices and the MyGov publication, never through WhatsApp.
The warning comes barely a week after the ministry terminated 20 open tenders advertised last December and March for goods and services ranging from agricultural tools to timber products.
The cancellations were made under the Public Procurement and Asset Disposal Act, 2015.
Treasury has urged Kenyans to report suspicious financial offers to the Capital Markets Authority (CMA) or other relevant bodies to help curb the rising cases of online fraud.
